Bank of Maldives (BML) has stated that it is offering refunds to customers who have lost money from transactions made via international websites. BML has reported an increase in scams being conducted through phone calls, emails, and international websites.
Speaking to PSM News, Public Relations Officer at BML Mohamed Saeed said that fraudsters can use One-Time Passwords (OTPs) and other personal information to steal money from customer bank accounts, which makes it difficult for investigative authorities to recover the funds. He said that BML will refund customers who have lost money from international websites charging their credit or debit card without their knowledge but that the bank will not offer a refund if the money is lost through Internet Banking or through use of customer information.
Additionally, Saeed said that BML is increasing public awareness to reduce the incidents of customers falling prey to scams. He noted that the first cases of scams were reported in 2014, during which criminals stole money by making payments to prepaid numbers and obtaining information on bank account cards. He said criminals have since drastically changed their scamming methods.
As such, Saeed highlighted the increase in reports of scams through online business transactions and said BML received over 250 reports involving e-commerce web pages last year, adding that such cases were also reported recently. He said the cases involved customers using the web pages to make a transaction and not receiving the product or their money back, as the web pages were removed soon after the transaction. He added that BML has been urging customers not to disclose their personal information or Internet Banking details.